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Composition of Olivine
Olivine is the name given to a group of silicate minerals that have a generalized chemical composition of A2SiO4. In that generalized composition, “A” is usually Mg or Fe, but in unusual situations can be Ca, Mn, or Ni. The chemical composition of most olivine falls somewhere between pure forsterite (Mg2SiO4) and pure fayalite (Fe2SiO4). In that…
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Geological Occurrence of Olivine
Most olivine found at Earth’s surface is in dark-colored igneous rocks. It usually crystallizes in the presence of plagioclase and pyroxene to form gabbro or basalt. These types of rocks are most common at divergent plate boundaries and at hot spots within the centers of tectonic plates. Olivine has a very high crystallization temperature compared to other minerals. That…
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What is Olivine?
Olivine is the name of a group of rock-forming minerals that are typically found in mafic and ultramafic igneous rocks such as basalt, gabbro, dunite, diabase, and peridotite. They are usually green in color and have compositions that typically range between Mg2SiO4 and Fe2SiO4. Many people are familiar with olivine because it is the mineral of a very popular green gemstone known as peridot.
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Three Bottom Lines
1) Get professional assistance: Mineral rights and mineral lease transactions involve large amounts of money and are very complex. This article is intended to be no more than a brief introduction. If you are contacted about leasing or selling your mineral rights, you should promptly get advice from an attorney who has expertise in mineral transactions…
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What Kind of Money Are We Talking About?
The amounts of money that change hands in mineral property transactions can be huge in comparison with the average person’s financial experience. The total yield (lease + royalties) or mineral sale price can often exceed the value of the surface rights. Let’s consider two examples: Example A: A 100-acre property is completely underlain by a…
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What Qualifies as a “Mineral”?
The word “mineral” is used in a variety of contexts. Generally, ores of metals, coal, oil and natural gas, gemstones, dimension stone, construction aggregate, salt and other materials extracted from the ground are considered to be minerals. However, there is no definition of “mineral” that applies in every situation, and what is considered to be a “mineral” can vary from state…
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State and Local Laws Always Apply
Most states have laws that regulate mining and drilling activity. There are also laws that regulate the sale of surface and mineral property. These laws are meant to protect the environment and all parties involved in property transactions. These laws are the only protection available to buyers or sellers on issues that are not specifically…
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Buying a Home, Land or a Farm
When buying property in areas of potential or historic mineral development, a buyer should determine if a fee simple estate is being purchased or if ownership will be shared with others. Mineral rights transactions are normally a matter of public record, and copies of deeds or other agreements are filed at a government office. Real…
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Damage to Aquifers
Many households in areas where mining or drilling takes place are outside of the service of public water supplies. These property owners rely on water wells for the production of their water. When underground mining occurs beneath a property, some subsidence and settlement should be expected. If the mine is below the aquifer tapped by…
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Delayed Damage to the Surface
Damage to the surface can be delayed. Subsidence of underground works or settlement of surface mined areas might not occur or be detected until decades after mining is completed. The owner of a fee simple estate should consider these facts before entering into a mineral rights sale or lease agreement. The consequences of mineral extraction…